Disappointing US employment figures helped push gold upward again.
(1888PressRelease) September 02, 2011 - MIAMI, FL - Gold prices strengthened again today, September 2, on disappointing US employment figures. There was zero growth in the non-farms payroll sector, set against expectations of around 80,000 and unemployment was again over 9%. Disappointing job figures led to speculation that the Federal Reserve will introduce a further round of quantitative easing in an attempt to help the situation; this would serve to push gold even higher. Gold benefited as US stocks tumbled amidst fears that the nation might be headed towards a double dip recession with the Dow Jones losing nearly 200 points or 1.7% and the Standard & Poor 500 declining by 1.9%
Gold was back up chasing platinum and looking set fair to make its way back to $1900 this morning. Silver also made significant gains as investors once more rushed to find a safe haven. According to the US Mint, August also saw record sales of gold and silver bullion coins, despite the high prices. Investors are now eagerly looking for dips in order to increase their holdings in gold, resulting in stronger support for the yellow metal and even higher prices.
"We are seeing significant gains in gold, silver and platinum today," says Bill Hionas of Pan American Metals of Miami. "The disappointing jobs figures have served to drive investors back to the safe haven of precious metals."
Pan American Metals of Miami, located in Miami Beach at the financial hub of North and South America, has a team of experienced brokers and traders available to assist clients with their purchases of precious metals bullion.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and brokers who combine many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Disappointing US employment figures helped push gold upward again. 
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